Showing 1 - 10 of 16,312
Persistent link: https://www.econbiz.de/10000643539
Persistent link: https://www.econbiz.de/10000570054
Persistent link: https://www.econbiz.de/10002359540
Persistent link: https://www.econbiz.de/10001956597
Persistent link: https://www.econbiz.de/10001506120
The paper presents a theory of the demand for money that combines a special case of the shopping time exchange economy with the cash-in-advance framework. The model predicts that both higher inflation and financial innovation - that reduces the cost of credit - induce agents to substitute away...
Persistent link: https://www.econbiz.de/10010295387
This paper proposes a model of the US unemployment rate which accounts for both its asymmetry and its long memory. Our approach, based on the tests of Robinson (1994), introduces fractional integration and nonlinearities simultaneously into the same framework (unlike earlier studies employing a...
Persistent link: https://www.econbiz.de/10010295392
This paper applies the Campbell-Shiller (1988) methodology to estimate a price dividend model with volatility and inflation risk, extending existing models in this field. The model fits the data well over the period 1979-2002 for the Euro Area, but less so for the U.S. The latter is interpreted...
Persistent link: https://www.econbiz.de/10010295476
Research efforts towards new energy sources and towards the efficiency of energy use will be vital to reducing CO2 abatement costs in the long term. Can such efforts be induced by price instruments? Economists often cite induced technological change as a possible consequence of environmental...
Persistent link: https://www.econbiz.de/10010295565
This paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equilibrium model economy. Matching between workers and vacancies with endogenous time spent in search, Nash-bargained wages, payroll taxation, and...
Persistent link: https://www.econbiz.de/10010295574